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Russia to Assume Presidency of UN Security Council in April

  • Russia will assume the presidency of the United Nations Security Council in April for the first time since it invaded Ukraine, the New York Times report. The presidency of the Council is largely a ceremonial role that rotates monthly among its members based on alphabetical order. Russia plans convene at least two meetings in April — on the transfer of weapons to Ukraine, and multilateralism and the UN charter — in addition to the regular schedule on Israeli-Palestinian peace plan.
  • The Russian economy will contract 1.7% in 2023, expand 1.5% in 2024 and 1.3% in 2025, according to a survey conducted by Bloomberg News. 2023 CPI is forecast at +5.8% y/y versus a prior survey of +5.9%, while 2024 CPI is forecast at +5% y/y versus +4.8% prior.
  • Bloomberg say the Finance Ministry may announce Q2 borrowing plans today, while Bank of Russia First Deputy Governor Ksenia Yudaeva will speak on consumer finances at 1200BST/1400 local time. There are no major data releases scheduled today.

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